Ann: Rox & Venus to Consolidate Interests in Youanmi Gold Project, page-25

It's here. $6.13m debt waved.

Distributed to VMC share holders or not, it doesn't change the fact the total of dilution. Considering VMC performance, I guess many VMC shareholders will take the opportunity to bail out.

Any idea how much value the ther VMC gold prospects worth? I assume those are pretty much useless as again they are JVs. 30% of interest is supposed to be entitled about 96m shares. Now, with the extra 1.4m shares worths $1.4m, plus waved $6.13m debt, VMC essentially sells their gold prospects for $8m to ROX. And don't forget ROX has some other 100% owned prospects of good resources as well.

More concerning, I just come to aware that post consolidation, ROX still owns only 90% of Youanmi JV project?! Does that mean we have another similar barricade to overcome? Who are the prospector? Will there be a blocking stake to a TO transaction?


Anyhow, ROX shares on issue is now doubled this year, from 160m to 330m. The hope of 50c SP in foreseeable time looks pretty slim.